The statistical agency says world oil demand this year will increase 1.5 million barrels per day this year. However, the group warned that recent signs of protectionism from the US could hamper economic growth forecasts worldwide and in turn, hit trade flows and oil demand.

OPEC and its allies are strictly sticking to the agreement of oil production ceiling to bring the market back to balance.

The world's biggest oil producers late last year agreed on a nine-month extension of an existing deal curbing production throughout this year to shrink stockpiles and keep prices above $60 per barrel but the recent development may force the price to dip.

However, longer-term factors centred mostly on soaring United States production kept markets wary.

That said, gains were limited by the Organization of the Petroleum Exporting Countries' (OPEC) projection that supply will overtake demand this year.

Saudi Arabia remains committed to OPEC's objective of "restoring inventories to their normal levels", the kingdom said earlier this week. USA output climbed by 12,000 barrels to 10.381 million barrels a day last week, the highest in weekly data going back to 1983, according to the Energy Information Administration. The discount of April contracts to May widened to 6 cents as growing supply weighed on the value of oil for prompt delivery. West Texas Intermediate (WTI) crude futures were up 1 cent at $60.97 a barrel. Brent is down 0.5 per cent for the week.

"Contango and backwardation are both a fundamentally physical signal in terms of surplus, but they are also strongly impacted by changes in speculative positions", SEB head of commodity strategy Bjarne Schieldrop said.

But speaking with CNBC during the CERAWeek 2018 conference held in Houston, Mohammad Barkindo, secretary general, OPEC, said there was no need to fear U.S. shale oil revolution. The move could have implications for U.S. sanctions on Iran, which could impact the latter's oil industry and exports, Facts Global Energy and Royal Bank of Canada warned.

It might not be all doom and gloom, even with the beginnings of an inventory build.

"This is a range-bound market for the moment", Rob Haworth, who helps oversee $151 billion in assets at U.S. Bank Wealth Management in Seattle, said by telephone. Explosive growth in the USA and substantial gains in Canada and Brazil will far outweigh potentially steep declines in Venezuela and Mexico.

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However, now that Skyrim VR is coming to SteamVR, players with an HTC Vive headset will be able to get in on the fun as well. Skyrim VR will be something that's instantly familiar to those who are already well acquainted with the standard version.

We're also getting the first seasonal event in the form of the Spring Blossom Festival, from April 6th to April 19th. Added the "Text Size" setting for changing subtitle text size, under Start Menu Options Game Settings .

The only downside to night two is that the episode was stuffed with a lot more average singers who received golden tickets. Next up is Misha Gontar , 26, from Marengo, Illinois who shows Ryan that he's going to sing a particular Ukranian song.

Sri Lanka , however, could not make the most of the start and lost wickets at regular intervals to squander the momentum. Skipper Rohit Sharma has been out of form and the Mumbai batsman would like to hit the purple patch as soon as possible.

The global toy industry has been fighting a losing battle for the attention of children obsessed with smartphones and tablets. Representatives at the company's corporate offices could not be reached for comment about the Hawaii locations.

Saquon Barkley would jumpstart the Giants' running game, and the Browns may have indicated that they won't be drafting him. In his last season with the 49ers, Hyde started all 16 games, and he totaled 1,290 yards and 8 touchdowns on 299 touches.

Mara Justine posted a video to social media as friends and family in Galloway Township gathered to view her big moment on Tuesday. Thaddeus returned for Season 16 as a new man physically, mentally and emotionally after losing a substantial amount of weight.

It should be noted that previous year Obama correctly picked North Carolina and UConn as the men's and women's champions. Get prep sports breaking news alerts from the Gwinnett Daily Post staff delivered to your email.

Interim Chief of Police Brian Manley told KXAN the packages were average size boxes. "We have innocent people being hurt". The explosions Monday happened at homes just a few miles apart. "She loved them so much I gave her a piece of the bush".

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